“Egremont Place Brighton £170,000, 1 bed flat for sale,
Currently on Market by I am Sold. Only 61 years on lease remaining
https://www.zoopla.co.uk/for-sale/details/59751361/
After winning the auction, the purchase didn't complete. This is because I didn't get a mortgage due to only 61 years remaining on the lease. I contacted several lenders and made one formal application for a mortgage. All these lenders told me that 61 years on lease is not enough to get a mortgage for 30 years.
I recommend to do you viewing carefully. the property is likely to have water leak and humidity problems as there are cracks on ceiling, walls and there springiness in the floor in the bedroom”
